Online retailers are pushing frequent sales and discounts to avoid the risk of reduced sales in case there is a third wave of coronavirus pandemic. E-retailers are now planning a sale every fortnight and category-specific sales every 7-10 days in the coming months.
Cleartrip is latest addition to list of acquisitions by Walmart-owned Indian e-commerce major in various sectors. Acquisition of Cleartrip enhances Flipkart group's position in India, which already has Myntra, PhonePe, eBay, Ekart, Jeeves, Jabong and Flipkart Wholesale as its subsidiaries
New cautious strategy may have evolved since existing investee companies such as Paytm, OYO, Ola and others continue to burn cash and struggle for profitability despite years of pumping in billions of dollars